Saudi's Yanbu Cement Company posted a 25 per cent drop in second-quarter net profit as sales fell amid increased competition and a ban on exports, the firm said on Sunday.

Yanbu Cement made a net profit of SR113 million in ($30.13 million) the three months ending June 30, compared with SR151 million in the same period a year earlier.

'The reason for the drop is the decline in the amount and value of sales due to the strong competition and the ban on exports,' the firm said in the bourse statement.

Operating profits declined by 23.7 per cent to SR115.8 million, the company said.-Reuters